A Confident Start To The Week
Suparna / 16 Sep 2013
The Indian markets opened more than 1% higher today. Most of the buying is seen in the banking sector, IndusInd Bank being the highest gainer so far. Ranbaxy Labs, though, has dropped by over 30% in the morning trades. The Nifty is up by 65 points at 5915 and Sensex is 240 points higher at 19973.
The Indian markets saw a gap-up opening in morning session. The indices opened more than 1% higher, with most of the buying seen in the banking sector. The Nifty is up by 65 points at 5915 and Sensex is 240 points higher at 19973. Both indices are higher in the range of 1.11%-1.20%. The global scenario is also looking strong.
The advance-decline ratio is on the positive side. On the NSE, 1867 shares are trading in gains and 1439 shares are down.
Top 5 Nifty Gainers: IndusInd Bank is the top gainer for today’s morning session, up by 4.6%. ICICI Bank, Axis Bank, Maruti Suzuki and Hero MotoCorp are among the other shares trading higher.
Top 5 Nifty Losers: Ranbaxy Labs is trading lower by 26.5%, followed by HCL Tech, Sesa Goa, TCS and Lupin.
10 out of the 13 sectors are trading in the green in the opening session. Bankex was the top gainer so far, up by 348 points, Auto is 350 points higher, Capital Goods has moved up by 116 points and FMCG has surged by 100 points. Mid-Caps and Small-Caps are also in positives, both up by 30 points in this session.
In the Asian markets, the Hang Seng is showing gains of 303 points. KOSPI and Taiwan Weighted are trading with a nominal negative bias. The Nikkei market is closed for trades today.
Buzzer: The shares of Ranbaxy Labs dropped by over 30% today after the U.S. Food and Drug Administration issued an import alert against the company's Mohali plant. The stock broke all the support levels and made a low of Rs 308. If it breaks below this level, it may see more weakness.
Nifty Futures made a high at the 6029 level. If it sustains above 5970, it may see more positive moves in mid-session.
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